Perkins Coie Trust Co Trims Position in Deere & Company (NYSE:DE)

Perkins Coie Trust Co trimmed its position in Deere & Company (NYSE:DE) by 73.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149 shares of the industrial products company’s stock after selling 409 shares during the quarter. Perkins Coie Trust Co’s holdings in Deere & Company were worth $63,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in Deere & Company in the 2nd quarter valued at $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter worth $32,000. Modus Advisors LLC bought a new stake in Deere & Company during the fourth quarter valued at $32,000. Centennial Bank AR grew its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC increased its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday. Oppenheimer lifted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup lowered their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Trading Up 4.0 %

NYSE:DE opened at $456.57 on Friday. The firm has a market capitalization of $124.00 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a fifty day moving average of $431.48 and a 200 day moving average of $401.99. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.26 earnings per share. On average, research analysts predict that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.42%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.